Preparing a Cash Budget
La Famiglia Pizzeria provided the following information for the month of October:
Required:
If required, round your answers to the nearest dollar.
1. Calculate the cash receipts expected in
October.
$
2. Calculate the cash needed in October to pay
for food purchases.
$
3. Prepare a cash budget for the month of October.
La Famiglia Pizzeria | |
Cash budget | |
For the month of October | |
Beginning balance | $ |
Cash receipts | |
Cash available | $ |
Less: | |
Payments for food and supplies purchases | $ |
Owners' draw | |
Workers' wages | |
Utilities | |
Rent | |
Insurance | |
Total disbursements | $ |
Ending balance | $ |
1) | Cash receipts | ||||||
Cash Sales october | (153000*85%) | 130050 | |||||
Credit sales oct | (153000*15%*70%) | 16065 | |||||
Credit sales sept | (181,500*15%*28%) | 7623 | |||||
Total Cash receipts expected in October | 153738 | answer | |||||
2) | Cash need in oct to pay for food purchases | ||||||
oct purchase | (98000*25%) | 24500 | |||||
Sept purchase | (130,000*75%) | 97500 | |||||
Cash need in oct to pay for food purchases | 122000 | answer | |||||
3) | Cash Budget | ||||||
Beginning balance | 2,147 | ||||||
Cash receipts | 153738 | ||||||
Cash available | 155,885 | ||||||
less: | |||||||
payment for food and supplies purchase | 122000 | ||||||
owenr's draw | 6,000 | ||||||
worker's wages | 7,300 | ||||||
utilities | 5,950 | ||||||
Rent | 4,100 | ||||||
insurance | 1,300 | ||||||
Total disbursements | 146650 | ||||||
Ending balance | 9,235 | ||||||
Preparing a Cash Budget La Famiglia Pizzeria provided the following information for the month of October:...
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